Investment to the volume of $180 mln will significantly facilitate the development of Georgia’s water supply system and the qualitative improvement of its management, noted Irakli Garibashvili, Prime Minister of Georgia, at an online meeting with Felix Parra Mediavilla, Executive Director of Aqualia and Irakli Gilauri, Chairman and Chief Executive of Georgia Capital on February 3.
Aqualia, a world leader with an HQ in Spain, has become an official strategic investor and partner of Georgia Global Utilities (GGU) – a daughter company of Georgia Capital. Aqualia invested $180 mln by acquiring 80% of Georgian Water and Power. Georgia Capital continues to own 20% in the utility company.
Garibashvili expressed his gratitude to investors for their demonstrated trust.
The online meeting on Thursday focused on the close relations between Spain and Georgia. According to the PM, Georgia is a reliable and stable business partner whose economy grew by 10.6% in 2021.
“Georgia has undergone a significant transformation in the last decade and has been advancing fast to a more liberal and free-market economy with one of the lowest tax rates in the world and readily-available access to public services,” he highlighted.
Advancing positions of Georgia in leading global ratings, due to ease of doing business and economic freedom, were also highlighted at the meeting.
Focus was put on the EU-Georgia Association Agreement (AA), along with a Deep and Comprehensive Free Trade Area (DCFTA) and Free Trade Agreements (FTA) with China, EFTA nations, Ukraine, Turkey and CIS countries, which let the investors gain exposure to multi-million consumer markets through Georgia. In addition, PM Garibashvili noted that the Government of Georgia is making huge investments in land, marine and railroad infrastructure to position the country as a regional hub of trade and logistics.
